ACquisitons
Partnering with HealthCrest
We will assist you step by step as part of our investment in your ASC. Together, we will navigate the process of joining forces to increase the quality of patient care and business profitability. Through a series of versatile, streamlined practices, our model of ASC management is ready to work hard for you and your team.
Read more about our proven process for successful integration.
The investment process begins with a Confidentiality or Non-Disclosure Agreement so that we can exchange information about our businesses. The Confidentiality Agreement is followed by:
Preliminary Due Diligence
Preliminary due diligence consists of the sharing of high level, and some detailed information on the performance of the ASC. It generally consists of financial statements, case volumes, and debt associated with the facility. It may also include a review of the existing Operating Agreement and an understanding of the facility partnership dynamics as well as other information necessary for HealthCrest to determine the value of your ASC.
Letter of Intent (LOI) or Term Sheet
Upon review of the preliminary due diligence, a Letter of Intent or Term Sheet will be sent if HealthCrest decides to make an offer to invest in your ASC. This document will outline the terms and timeline under which HealthCrest will invest in the facility. The LOI will be based on a valuation, ownership percentage, and other material terms of the transaction. This document is negotiable and will be the basis of a future Purchase Agreement.
Exclusivity Period
Once agreement is reached on the terms of the Letter of Intent and upon execution, we will enter an exclusivity period. This is a finite and agreed to period of time, usually about 90 days, during which the parties will work together exclusively until either the deal closes or the parties agree to walk away.
Due Diligence
During the Exclusivity Period HealthCrest will initiate a deliberate and thorough process to better understand and analyze the details of the ASC, the business and the partnership.
Transaction Documents
HealthCrest will prepare at our expense all documents related to HealthCrest’s investment in the ASC. These documents may include: Purchase Agreement, Assignments, any necessary Amendments or Revisions to the Operating/Partnership agreement, and typically a new management agreement. HealthCrest will prepare these documents for review by your legal and financial advisors.
Closing
HealthCrest will be thorough in the Due Diligence and document preparation processes, and is committed to moving as quickly as possible as not to delay closing. The closing of the transaction will consist of the execution of all required documents and funding of the purchase price.